Final answer:
The cost per unit for job 431 cannot be calculated without the total cost information. In business decisions, such as finding the profit-maximizing output level or choosing the best production method, it is critical to know all relevant costs and perform appropriate calculations.
Step-by-step explanation:
To calculate the cost per unit for job 431, we need to understand the total costs involved and the number of units produced. However, the information provided does not specify the total costs for job 431. To calculate the cost per unit, we would divide the total costs of job 431 by the number of units, which is 400 in this case. Without the total cost information, we cannot provide the cost per unit.
When calculating profit-maximizing output levels, you follow certain steps like in step 5, which involves determining the quantity of output that maximizes profit. For example, given the profit-maximizing output quantity is 5, you then go on to look at the profits made, which could be $40 as specified.
Regarding the best production method considering the cost of labor and capital, you compare different methods and their costs. Suppose labor costs $100/unit and capital costs $400/unit. You'd calculate the total costs for each method:
- Method 1: (50 units of labor × $100/unit) + (10 units of capital × $400/unit)
- Method 2: (20 units of labor × $100/unit) + (40 units of capital × $400/unit)
- Method 3: (10 units of labor × $100/unit) + (70 units of capital × $400/unit)
So, you'd select the method with the lowest total cost. If the cost of labor increases to $200/unit, you'd redo the calculations with the new labor cost to find the best method under the new cost conditions.